Solana is a blockchain technology that is being developed by scientists and technologists at the National Renewable Energy Laboratory. The Solana blockchain is designed to facilitate transactions of high volumes of data in a fast and secure way. This could have implications in many industries, including finance, information technology, health care and the internet of things (IOT).

Solana

Bitcoin is a decentralized digital currency that works as a medium of exchange for goods and services. It was created in 2009 by a pseudonymous programmer named Satoshi Nakamoto (believed to be a Japanese man) as an alternative to other existing forms of currency, which are controlled by national governments and monetary authorities. Similar to cash, Bitcoin only exists digitally, but unlike cash it can be used to buy things electronically, like online goods or services. Bitcoin is made possible by a technology known as blockchain, which acts as the underlying infrastructure that makes facilitating transactions possible without the need of a third party (for example, banks).

	Solana	Bitcoin
Created by	Anatoly Yakovenko	Satoshi Nakamoto
Native token	SOL	BTC
Consensus algorithm	PoH	PoW
Hashing algorithm	SHA-256	SHA-256
Supports EVM	No	No
TPS	65000	5
Block time (secs)	0.4	600
Layer	1	1
Supports smart contracts	Yes	No
Average transaction fee	$0.00025	$5.0973
Staking rewards (APR)	7%	0%

Solana vs. Bitcoin

Overview

Table of Contents

Comparison

Is Solana faster than Bitcoin?

Is Solana cheaper than Bitcoin?